Beyond helping companies streamline their logistical processes and distribution networks, IoT technology is also driving their expansion into new untapped markets with the advent of smart vehicles and drones.

Beyond helping companies streamline their logistical processes and distribution networks, IoT technology is also driving their expansion into new untapped markets with the advent of smart vehicles and drones.

“Technology companies have been the dominant deal makers in the AI space. However, with AI making inroads into diverse sectors, the buyer universe in expanding and the space is also attracting investments from non-technology companies."

The global avocado market revenue amounted to $13.5B in 2018, reducing by -9.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, avocado consumption continues to indicate a remarkable expansion. The pace of growth was the most pronounced in 2017 with an increase of 29% y-o-y. In that year, the global avocado market attained its peak level of $14.9B, and then declined slightly in the following year.

Production 2007-2018

In 2018, the amount of avocados produced worldwide amounted to 6.4M tonnes, rising by 6% against the previous year. Overall, the total output indicated a strong expansion from 2007 to 2018: its volume increased at an average annual rate of +5.3% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the avocado production increased by +85.2% against 2008 indices. The most prominent rate of growth was recorded in 2009 with an increase of 13% y-o-y. Over the period under review, global avocado production attained its peak figure volume in 2018 and is expected to retain its growth in the immediate term. The general positive trend in terms of avocado output was largely conditioned by remarkable growth of the harvested area and a modest expansion in yield figures.

In value terms, avocado production stood at $12.9B in 2018 estimated in export prices. Over the period under review, avocado production continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 when the output figure increased by 40% against the previous year. In that year, global avocado production attained its peak level of $15.6B, and then declined slightly in the following year.

Exports 2007-2018

In 2018, approx. 2.4M tonnes of avocados were exported worldwide; growing by 23% against the previous year. In general, avocado exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2018 when exports increased by 23% y-o-y. In that year, global avocado exports attained their peak and are likely to continue its growth in the immediate term.

In value terms, avocado exports totaled $5.6B in 2018. Overall, avocado exports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of 36% against the previous year. Global exports peaked at $5.8B in 2017, and then declined slightly in the following year.

Exports by Country

Mexico represented the major exporting country with an export of around 1.1M tonnes, which reached 45% of total exports. It was distantly followed by Peru (361K tonnes), the Netherlands (246K tonnes) and Chile (133K tonnes), together comprising a 31% share of total exports. The following exporters – Spain (106K tonnes), South Africa (85K tonnes), Kenya (72K tonnes) and the U.S. (68K tonnes) – together made up 14% of total exports.

From 2007 to 2018, average annual rates of growth with regard to avocado exports from Mexico stood at +12.5%. At the same time, Peru (+20.8%), the U.S. (+19.6%), the Netherlands (+18.2%), Kenya (+14.3%), Spain (+7.3%) and South Africa (+6.3%) displayed positive paces of growth. Moreover, Peru emerged as the fastest growing exporter in the world, with a CAGR of +20.8% from 2007-2018. By contrast, Chile (-1.1%) illustrated a downward trend over the same period. Mexico (+33 p.p.), Peru (+13 p.p.), the Netherlands (+8.6 p.p.), the U.S. (+2.4 p.p.), Spain (+2.4 p.p.), Kenya (+2.3 p.p.) and South Africa (+1.7 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($2.4B) remains the largest avocado supplier worldwide, comprising 43% of global exports. The second position in the ranking was occupied by the Netherlands ($734M), with a 13% share of global exports. It was followed by Peru, with a 13% share.

In Mexico, avocado exports increased at an average annual rate of +13.4% over the period from 2007-2018. In the other countries, the average annual rates were as follows: the Netherlands (+21.6% per year) and Peru (+23.1% per year).

Export Prices by Country

In 2018, the average avocado export price amounted to $2,308 per tonne, lowering by -22% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2017 when the average export price increased by 25% y-o-y. In that year, the average export prices for avocados attained their peak level of $2,960 per tonne, and then declined slightly in the following year.

Export prices varied noticeably by the country of origin; the country with the highest export price was Spain ($3,160 per tonne), while Kenya ($1,646 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of export prices was attained by Chile, while the other global leaders experienced more modest paces of growth.

Imports 2007-2018

In 2018, the amount of avocados imported worldwide stood at 2.4M tonnes, growing by 12% against the previous year. Overall, avocado imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2010 when imports increased by 25% against the previous year. Over the period under review, global avocado imports attained their maximum in 2018 and are expected to retain its growth in the immediate term.

In value terms, avocado imports amounted to $5.9B in 2018. Overall, avocado imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2011 with an increase of 32% year-to-year. Global imports peaked at $6.3B in 2017, and then declined slightly in the following year.

Imports by Country

The U.S. was the key importing country with an import of around 1M tonnes, which accounted for 43% of total imports. The Netherlands (258K tonnes) held the second position in the ranking, followed by France (144K tonnes), the UK (118K tonnes) and Spain (115K tonnes). All these countries together took near 26% share of total imports. Canada (93K tonnes), Germany (93K tonnes), Japan (74K tonnes) and China (54K tonnes) followed a long way behind the leaders.

Imports into the U.S. increased at an average annual rate of +10.4% from 2007 to 2018. At the same time, China (+136.2%), the Netherlands (+16.0%), Spain (+15.1%), Germany (+14.6%), Canada (+13.5%), Japan (+9.8%), the UK (+9.1%) and France (+2.3%) displayed positive paces of growth. Moreover, China emerged as the fastest growing importer in the world, with a CAGR of +136.2% from 2007-2018. The U.S. (+29 p.p.), the Netherlands (+8.6 p.p.), Spain (+3.8 p.p.), the UK (+3 p.p.), Germany (+3 p.p.), Canada (+2.9 p.p.), China (+2.2 p.p.) and Japan (+2 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($2.4B) constitutes the largest market for imported avocados worldwide, comprising 42% of global imports. The second position in the ranking was occupied by the Netherlands ($539M), with a 9.2% share of global imports. It was followed by France, with a 7% share.

In the U.S., avocado imports expanded at an average annual rate of +13.4% over the period from 2007-2018. In the other countries, the average annual rates were as follows: the Netherlands (+17.1% per year) and France (+6.5% per year).

Import Prices by Country

The average avocado import price stood at $2,439 per tonne in 2018, dropping by -16.8% against the previous year. Over the last eleven year period, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2011 an increase of 23% year-to-year. Global import price peaked at $2,931 per tonne in 2017, and then declined slightly in the following year.

Import prices varied noticeably by the country of destination; the country with the highest import price was Germany ($3,414 per tonne), while Spain ($1,920 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of import prices was attained by Germany, while the other global leaders experienced more modest paces of growth.